Thrivent Financial For Lutherans Sells 1,630 Shares of Norfolk Souther Corporation (NSC)

Thrivent Financial For Lutherans cut its position in shares of Norfolk Souther Corporation (NYSE:NSC) by 0.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 778,253 shares of the railroad operator’s stock after selling 1,630 shares during the period. Thrivent Financial For Lutherans owned about 0.27% of Norfolk Souther Corporation worth $87,141,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in NSC. Alliancebernstein L.P. raised its position in Norfolk Souther Corporation by 936.1% in the first quarter. Alliancebernstein L.P. now owns 5,378,457 shares of the railroad operator’s stock worth $602,226,000 after buying an additional 4,859,355 shares in the last quarter. JPMorgan Chase & Co. raised its position in Norfolk Souther Corporation by 31.8% in the first quarter. JPMorgan Chase & Co. now owns 4,209,269 shares of the railroad operator’s stock worth $471,313,000 after buying an additional 1,016,319 shares in the last quarter. Investec Asset Management LTD acquired a new position in Norfolk Souther Corporation during the first quarter worth $92,710,000. Ameriprise Financial Inc. raised its position in Norfolk Souther Corporation by 36.0% in the first quarter. Ameriprise Financial Inc. now owns 1,863,015 shares of the railroad operator’s stock worth $208,626,000 after buying an additional 492,922 shares in the last quarter. Finally, American Century Companies Inc. raised its position in Norfolk Souther Corporation by 34.7% in the first quarter. American Century Companies Inc. now owns 1,459,919 shares of the railroad operator’s stock worth $163,467,000 after buying an additional 375,745 shares in the last quarter. Institutional investors and hedge funds own 70.51% of the company’s stock.

Shares of Norfolk Souther Corporation (NYSE NSC) traded up 0.96% during trading on Friday, hitting $118.63. 1,448,245 shares of the stock traded hands. The firm’s 50-day moving average price is $118.72 and its 200-day moving average price is $118.14. Norfolk Souther Corporation has a 12 month low of $89.92 and a 12 month high of $125.31. The stock has a market cap of $34.19 billion, a PE ratio of 19.28 and a beta of 1.33.

Norfolk Souther Corporation (NYSE:NSC) last announced its quarterly earnings data on Wednesday, July 26th. The railroad operator reported $1.71 earnings per share for the quarter, beating analysts’ consensus estimates of $1.65 by $0.06. Norfolk Souther Corporation had a net margin of 17.66% and a return on equity of 14.45%. The company had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.64 billion. During the same quarter last year, the business posted $1.36 EPS. The firm’s revenue for the quarter was up 7.5% on a year-over-year basis. Analysts anticipate that Norfolk Souther Corporation will post $6.32 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 11th. Investors of record on Monday, August 7th will be issued a dividend of $0.61 per share. The ex-dividend date is Thursday, August 3rd. This represents a $2.44 dividend on an annualized basis and a yield of 2.06%. Norfolk Souther Corporation’s payout ratio is 39.61%.

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A number of research analysts have recently commented on NSC shares. Zacks Investment Research upgraded shares of Norfolk Souther Corporation from a “hold” rating to a “buy” rating and set a $132.00 price target for the company in a research report on Wednesday, May 3rd. Deutsche Bank AG boosted their price target on shares of Norfolk Souther Corporation from $126.00 to $132.00 and gave the company a “buy” rating in a research report on Friday, April 28th. Stifel Nicolaus boosted their price target on shares of Norfolk Souther Corporation from $114.00 to $122.00 and gave the company a “hold” rating in a research report on Monday, May 1st. TD Securities restated a “hold” rating on shares of Norfolk Souther Corporation in a research report on Thursday, April 27th. Finally, ValuEngine upgraded shares of Norfolk Souther Corporation from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Four equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $112.35.

In other news, VP Thomas E. Hurlbut sold 802 shares of the business’s stock in a transaction dated Thursday, May 25th. The shares were sold at an average price of $116.54, for a total value of $93,465.08. Following the completion of the sale, the vice president now owns 4,300 shares in the company, valued at approximately $501,122. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman James A. Squires sold 24,407 shares of the business’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $119.95, for a total transaction of $2,927,619.65. Following the completion of the sale, the chairman now owns 76,481 shares of the company’s stock, valued at approximately $9,173,895.95. The disclosure for this sale can be found here. Company insiders own 0.36% of the company’s stock.

About Norfolk Souther Corporation

Norfolk Southern Corporation is a holding company engaged in the rail transportation business. As of December 31, 2016, the Company operated approximately 19,500 miles of road primarily in the East and Midwest. The Company is engaged in the rail transportation of raw materials, intermediate products and finished goods primarily in the Southeast, East and Midwest.

Institutional Ownership by Quarter for Norfolk Souther Corporation (NYSE:NSC)

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